Orange finalizes acquisition of MasOrange for €4.25 billion
French telecom giant Orange has finalized its €4.25 billion acquisition of Spanish operator MasOrange, taking full ownership from a joint venture with Lorca, controlled by KKR, Cinven, and Providence.
French telecommunications giant Orange has finalized its acquisition of Spanish operator MasOrange for €4.25 billion. The transaction, completed on Monday, June 8, grants Orange full ownership of MasOrange, which previously operated as a 50/50 joint venture. The other half of the joint venture was held by Lorca, a company controlled by investment funds KKR, Cinven, and Providence. This strategic move sees Orange consolidate its position in the Spanish telecommunications market. The acquisition, initially announced at an earlier date, represents a significant investment by Orange to expand its European footprint and streamline its operations in Spain. Sources: Le Monde.